Piper Sandler Companies (NYSE:PIPR) Cut to “Neutral” at The Goldman Sachs Group

Piper Sandler Companies (NYSE:PIPR) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Monday,Briefing.com Automated Import reports. They presently have a $317.00 price objective on the financial services provider’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 5.17% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on PIPR. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Trading Up 0.7 %

NYSE PIPR opened at $301.43 on Monday. Piper Sandler Companies has a twelve month low of $162.50 and a twelve month high of $351.80. The company has a market capitalization of $5.36 billion, a PE ratio of 32.20 and a beta of 1.46. The company has a 50-day moving average of $313.26.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The company had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. On average, sell-side analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its position in shares of Piper Sandler Companies by 2.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 54 shares in the last quarter. TD Asset Management Inc bought a new stake in Piper Sandler Companies during the second quarter worth about $483,000. Victory Capital Management Inc. grew its stake in Piper Sandler Companies by 74.7% during the second quarter. Victory Capital Management Inc. now owns 13,176 shares of the financial services provider’s stock worth $3,033,000 after buying an additional 5,636 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Piper Sandler Companies by 1.7% during the second quarter. Arizona State Retirement System now owns 4,950 shares of the financial services provider’s stock worth $1,139,000 after buying an additional 83 shares in the last quarter. Finally, Quest Partners LLC raised its stake in shares of Piper Sandler Companies by 531.8% in the second quarter. Quest Partners LLC now owns 6,710 shares of the financial services provider’s stock valued at $1,544,000 after acquiring an additional 5,648 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Company Profile

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.